Textile

No growth in monthly UK real GDP in Jul; 0.5% growth in May-Jul: ONS

11 Sep '24
1 min read
No growth in monthly UK real GDP in Jul; 0.5% growth in May-Jul: ONS
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Insights

Monthly UK real gross domestic product (GDP) is estimated to have shown no growth in July this year after the same trend in June, according to the Office of National Statistics (ONS).

Real GDP is estimated to have grown by 0.5 per cent in the three months to July compared with the three months to April.

Production output decreased by 0.8 per cent in July (1 per cent reduction in manufacturing) following a growth of 0.8 per cent in June, and decreased by 0.1 per cent in the three months to July (manufacturing output fell by 0.3 per cent in this period) compared with the three months to April, an ONS release said.

Manufacturing output was the largest contributor to the reduction in production output in July, following a growth of 1.1 per cent in June 2024. Manufacturing output decreased in seven of the 13 subsectors in July.  

Fibre2Fashion News Desk (DS)
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